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GlaxoSmithKline hit by drug shortage

Date published: 12/01/2006

Manufacturing problems at GlaxoSmithKline's Puerto Rico site are causing the firm to face drug shortages in the US. It is reported there are shortages for several products including the heart drug Coreg (Carvedilol) and the diabetes drug Avandamet.

The shortages are a result of problems at the company's plant at Cidra in Puerto Rico that led to GlaxoSmithKline signing a consent decree with the US Food and Drug Administration. Difficulties included drugs not having the right amount of active ingredients and splitting. The consent decree was signed in April last year and the current shortages are said to be from getting the plant back up to speed

As a response GlaxoSmithKline is advising doctors in the US about the shortages and telling them not to start patients on Coreg until the problems are solved. Sales representatives have also been given fewer samples.

Prudential Equity Group analyst Tim Anderson, who wrote an investor note on GlaxoSmithKline, said it was uncertain how long the problems would last but they should have little effect on fourth-quarter earnings.

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